[Anna]

Typically when someone says use cash they are referring to the 6-12 months of cash normally suggested to keep in a high yield savings account.

And though that is not normally near $150k, it should be a substantial amount that could be used towards some renovations and then you would only do the renovations a little at a time with what you had available to work with.

That’s just a suggestion, obviously a lot of people take out loans but several people I know, only do what they can afford to pay in cash.

[Don]

FREEDOM. If you don’t understand the freedom of no debt then just enjoy your loan and being a slave to the lender. It’s a suggestion that you don’t need to take. I doubt anyone “has $150k laying around” not earning interest, looks like yer just being silly for some reason.

Don’t miss: Seeking financial/tax advice – I really don’t even know what the options are

[Kevin]

If you have the monthly excess income to pay off the 8%HELOC in 6 months, I suggest doing it that way.

I did a similar thing but much riskier, and made a post about it. I took out 275k of HELOC last June with the intention of building a pool/patio. I invested the money in TSLA hoping for the gains to pay for the pool. Tsla tanked 60% and my heloc interest went from 4% to 9%. Worst case scenario lol

I put the ~150k the pool cost on 15 month 0% credit cards, and just did tsla options trading to pay the monthly interest on the heloc. Anyways….with TSLA back up now, the pool is more than 50% paid for with gains and I’ll sell those tsla shares later this summer or early winter and have a “free” pool.

Roller coaster ride….but worth it in the end.

[Jos]

Get a SBLOC against your brokerage account. Keep the shares but use as collateral

[Damon]

Cash is being used synonymously with liquidity. Also, everyone has different situations so they give advice based on their experience.

[Author]

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